Apple has purchased Beats for $3 billion
After weeks of rumor and speculation, Apple has made it official and has announced it’s acquisition of Dr. Dre’s Beats Audio.
The deal saw Apple pay $2.6 billion to co founders Dr. Dre and Jimmy Iovine and their host of investors. The rest of the money will be doled out in Apple shares.
“Music is such an important part of all of our lives and holds a special place within our hearts at Apple.
“That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.” CEO Tim Cook said in a statement.
The real reason why Apple is buying Beats Audio isn’t for the headphone music. Apple even confirmed it’s Daisy they all but needed in the official press release by mentioning the music streaming hub before other business Beats owns.
Meanwhile, Dr. Dre and Jimmy Iovine will start their new jobs at Silicon Valley in a few next Mondays. The two were hired by Apple as part of the deal but their positions hasn’t been made public yet.
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